The primary responsibility of the Finance Department is to maintain the City's financial records in accordance with the City Charter, state law and generally accepted accounting principles (GAAP). This Department includes the activities of finance and treasury.
The Finance Department is responsible for:
- cash management
- collection and billing
- debt administration
As part of the accounting function, accounting systems are established for new funds, grants, projects, or other needs. Detailed records of all property and equipment are kept and reconciled with an annual physical inventory. Periodic financial and budget status reports are prepared and submitted to the City Commission. Approximately forty support schedules for account analysis are prepared in conjunction with the City's annual audit. A comprehensive annual financial report is also prepared each year in conjunction with the annual audit. Finance also processes payroll for all City employees, accounts payable and utility billings.
The Finance Department coordinates City-wide preparation of the budget and creates the annual budget document from information submitted by the departments. Throughout the year, departmental expenditures are monitored and adjustments are made as needed.